I would suggest that that first action item would be is to ask for (in writing) are 1) data protection and 2) privacy policies. I would then either pick it apart, or find someone who works in cybersecurity (or the right lawyer) to do that. I’ve done it a few times and talked my employer out of a few dodgy products, because the policies clearly try to absolve the vendor of any potential liability. Now, whether the policies truly limit liability would have to be tested in court.
You could also talk about how data protection, encryption, identity and access management, and governance is actually really expensive, but I’d first start poking holes in the actual policies to create doubt.